CORPORATE OVERVIEW
traits Inter Logistics Berhad (“Straits”) was incorporated in Malaysia under the Companies Act 1965 on 4 December 1996 as a private limited company under the name of Ruby Quest Sdn. Bhd. On 19 March 2004, Straits was converted into a public company under the name of Ruby Quest Berhad. Ruby Quest Berhad was listed on the MESDAQ Market of Bursa Securities on 30 May 2005 (now listed on the ACE Market of Bursa Securities under Straits).
On 22 June 2007, Ruby Quest Berhad changed its name to Envair Holding Berhad. This was followed by a corporate name change to Raya International Berhad on 2 July 2013, before the adoption of its present name, Straits Inter Logistics Berhad, on 20 June 2017. Straits was listed on the ACE Market of Bursa Securities (then known as MESDAQ Market of Bursa Securities) on 30 May 2005.
Straits is principally engaged in investment holding activities and the provision of management services.
Straits Group was established as manufacturers and traders of cleanroom filters and other water filtration products. Straits Group then expanded the trading of filtration-related products to include water filtration cartridges and charcoal fines and granules, and the trading and distribution of fast moving consumer products.
On 14 September 2015, Selatan Bunker (M) Sdn. Bhd. was incorporated as a subsidiary of Straits, with Straits holding a 51.0% stake in the company, to allow Straits Group to diversify into the oil trading and bunkering business segment. This was in line with Straits Group’s strategy to pursue a long term sustainable business model that would contribute to positive returns. Subsequently, Selatan Bunker (M) Sdn. Bhd. entered into a collaboration agreement with Tumpuan Megah Development Sdn. Bhd. on 29 December 2015, which was then supplemented on 6 March 2017 (“Collaboration Agreement”). This marked Straits Group’s foray into the oil trading and bunkering business segment.
In 2016, Selatan Bunker (M) Sdn. Bhd. was licenced under the Petroleum Development Act (“PDA”) 1974 (“PDA licence”) for bunkering services, allowing it to operate from the Port of Pasir Gudang / Johor Port and the Port of Tanjung Pelepas. Both the PDA licences were issued by the Ministry of Domestic Trade, Cooperative and Consumerism.
In 2017, Straits Group acquired two vessels, namely Sturgeon and Straits 1, to support its oil trading and bunkering business. The acquisition of these two vessels enhanced Straits Group’s competitiveness in the oil bunkering business by having its own operating vessels to generate revenues from marine bunker sales; allowed Straits Group to have greater control over its oil bunkering operations whereby vessel scheduling based on location and operations can be optimised based on its requirements for greater efficiency and productivity; and increased Straits Group’s bunkering capacity for its oil bunkering business to help ensure uninterrupted services to its customers, thereby mitigating the risk of cancellation of lease agreements for vessel chartering by its lessor or owner.
CORE VALUES
Every action undertaken should be environmentally, economically and socially sustainable so as to ensure the continuity and preservation of our Group, our integrated community, business partners and stakeholders.
We strive to upkeep the levels of professionalism and the principals of transparency in all matters pertaining to our professional conduct and business activities.
Our Group shall be accountable in every way towards our many endeavours in all aspects of our professional conduct in the marketplace especially towards the setting, executing and achieving of our goals and objectives.
Upon the trust granted us by our stakeholders, shareholders, clients, customers and colleagues, we strive to uphold the practice of responding and reacting in a timely and prompt manner in every endeavour we undertake.